Capital Markets Lead

Hyperbolic; San Francisco (CA); On-site; USD 180,000 - 350,000; Full time

Job summary

Hyperbolic Labs, based in San Francisco, seeks a senior capital markets professional to architect and raise debt capital for its Open-Access AI Cloud. You will own lender relationships, structure facilities, and manage covenants, ensuring financeable contracts while supporting ongoing equity rounds.

The role requires deep experience in capital markets, institutional fundraising, and complex debt structures, with a track record of delivering sizeable facilities and post-close reporting.

Qualifications

• 5+ years in capital markets, corporate development, or institutional fundraising; 10+ preferred
• Raised institutional capital before — from institutional LPs for hedge funds, private equity, or venture capital — and you can name the relationships you’d bring
• Investment bank capital markets experience, ideally debt: DCM, leveraged finance, structured finance, private capital markets, or a financial sponsors group
• Existing relationships with bank, non-bank, and private credit lenders active in the AI space
• Real fluency in credit documentation and structure — comfortable arguing about first‑lien vs. second‑lien, intercreditor terms, cash sweeps, and control over accounts
• Strong financial modeling skills; you can build the facility model yourself and defend every assumption
• Comfortable operating with ambiguity, a small team, and no analyst bench

Responsibilities

• Originate and structure debt capital to fund vendor down payments and capacity commitments
• Manage lender and investor relationship map; run raises end to end from positioning through definitive documentation
• Negotiate covenants, lien priority, DACA mechanics, borrowing base definitions, and advance rates
• Own the financing side of our contract-level model and support concurrent equity rounds
• Post-close lender reporting and compliance; coordinate with vendor supply and customer contracts to ensure financeability
• Develop and prioritize a lender universe; secure a term sheet within 12 months

Skills

Capital markets

Institutional fundraising

Debt financing

Lender relationships

Credit documentation

Financial modeling

Structured finance

Negotiation skills

Ambiguity tolerance

Team leadership

Job description

Who We Are

Hyperbolic Labs is on a mission to democratize AI by breaking down the barriers to computing power with our Open-Access AI Cloud. By aggregating computing resources across the globe, we offer an innovative GPU marketplace and AI inference service that promise affordability and accessibility for all. As pioneers at the intersection of AI and open-source technology, we believe in an open future where AI innovation is limited only by imagination, not by access to resources. We're looking for forward-thinking individuals who share our passion for making AI universally accessible, secure, and affordable. Join us in building a platform that empowers innovators everywhere to turn their visionary AI projects into reality. As we prepare for growth after our Series A, our team — led by co-founders with PhDs in AI, Math, and Computer Science — is poised to redefine computing.

About the Role

You’ll work directly with the Head of Finance and CEO to raise the capital that funds our compute supply, across conventional facilities and structures that don’t have a standard playbook yet. Compute is an unusual asset class. It has contracted cash flows, a real residual value, a depreciation curve nobody agrees on, and a lender base that is still forming an opinion about it. You’ll build the financing architecture around it, and make the case to a credit committee that our receivables are money good. This is a builder’s seat, not a maintenance seat — there is no existing facility to administer, and you will originate the first ones. You’ll originate and structure debt capital to fund vendor down payments and capacity commitments, spanning bank revolvers, private credit and non‑bank facilities, receivables‑and‑contract‑backed structures, SPV and project‑style financings, and vendor and equipment financing. You’ll own the lender and investor relationship map, run raises end to end from positioning through definitive documentation, and sit in the redlines on covenants, lien priority, DACA mechanics, borrowing base definitions, and advance rates. You’ll own the financing side of our contract‑level model and bring leadership a defensible recommendation rather than a menu, support the concurrent equity round without letting the debt and equity tracks collide, manage post‑close lender reporting and compliance, and work closely with the teams negotiating vendor supply and customer contracts so that what we sign is financeable. In your first 90 days, you’ll know our unit economics and contract mechanics, have a mapped and prioritized lender universe, and have first meetings underway. By six months, you’ll have a term sheet in hand for a facility that funds vendor down payments on terms we’d sign again. By twelve months, capital is no longer the constraint on how much capacity we can commit to.

Who You Are

• 5+ years in capital markets, corporate development, or institutional fundraising; 10+ preferred
• You have raised institutional capital before — specifically from institutional LPs for a hedge fund, private equity firm, or venture capital firm — and you can name the relationships you’d bring
• Investment bank capital markets experience, ideally debt: DCM, leveraged finance, structured finance, private capital markets, or a financial sponsors group
• Existing relationships with bank, non‑bank, and private credit lenders active in the AI space
• Real fluency in credit documentation and structure — comfortable arguing about first‑lien vs. second‑lien, intercreditor terms, cash sweeps, and what a lender actually means when they ask for control over an account
• Strong financial modeling skills; you can build the facility model yourself and defend every assumption in it
• Comfortable operating with ambiguity, a small team, and no analyst bench

Preferred Qualifications

• You’ve raised a Series B or Series C at a startup — as an operator, not an advisor
• Exposure to asset‑backed, equipment, infrastructure, or project finance
• Familiarity with AI infrastructure, data centers, semiconductors, or energy — or a demonstrated ability to get up the curve on a technical market fast

Hyperbolic is an equal opportunity employer. We celebrate diversity and are committed to creating an inclusive environment for all employees.